Tag: Financial Decisions

Bulletproof Wealth: How to Secure What You’ve Built
Bulletproof Wealth: How to Secure What You’ve Built (EP. 63)

Bulletproof Wealth: How to Secure What You’ve Built (EP. 63)

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In this episode of Harnessing Your Wealth, we discuss the importance of protecting wealth, especially in blended families, and the role of trusts in safeguarding assets for future generations. Billy, Shaun and Cade open conversations about inheritance and financial planning to prevent conflicts among family members. The discussion also highlights the significance of having a solid financial plan to ensure long-term success and stability.

Takeaways

  • Prenuptial agreements are essential for protecting assets in blended families.
  • QTIP trusts can help safeguard children’s inheritance in blended families.
  • Trustees should be chosen carefully to avoid family conflicts after death.
  • Estate planning is especially important for blended families to consider all parties involved.
  • Teaching children the value of money can prevent them from squandering their inheritance.
  • Having a financial plan helps individuals understand their goals and resources.
  • Open discussions about wealth can strengthen family relationships.

Resources & Previous Episodes of Interest:

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10 Essential Steps to Guide Your Children Toward Financial Fulfillment (Ep. 38)

10 Essential Steps to Guide Your Children Toward Financial Fulfillment (Ep. 38)

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Financial growth for children starts with the right guidance from parents.

How can parents instill financial wisdom in their children from a young age? What steps can they take to ensure their kids grow up financially savvy and independent?

This week on Harnessing Your Wealth, Billy Peterson and Shaun Peterson discuss ten essential steps every parent should follow to teach their children about finances.  

You’ll learn practical advice, real-life examples, and some humorous anecdotes that highlight the importance of financial education for the next generation.

Billy and Shaun touch on: 

  • The importance of teaching financial concepts like budgeting and investing from a young age
  • Avoiding habits like impulse purchases and unnecessary debt
  • Allowing children to make their own financial decisions and learn from mistakes
  • Encouraging long-term investing and the power of compound interest
  • And more!

Resources:

Connect with Billy Peterson:

Connect with Shaun Peterson: 

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